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MSNBCW 18
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English 58
Search Results 0 to 49 of about 58 (some duplicates have been removed)
MSNBC
Dec 30, 2012 3:00pm PST
with the deficit in the biggest way. but their only priority is making sure that tax breaks for the wealthiest americans are protected. at some point, i think what's important is that they listen to the american people. >> joining me now, congressman chris von holland of maryland. good evening. it is a good sign that chained cpi is off the table. the senate will be back tomorrow at 11:00. how high is your optimism or pessimism at this moment? >> well, it was a very bad sign when senator mcconnell put this social security change on the table, as part of a small deal, that was obviously something that could have totally thrown a monkey wrench into the process. so the fact that they backed off that is obviously good news. but as senator reid said, there are lots of obstacles still to go. and the fundamental issue remains what the president just said in that clip. both today and for the last year, the number one priority of republicans have been -- has been to use the middle class tax cuts as leverage to try and extract these super big tax breaks for very wealthy individuals, including now their f
FOX News
Dec 30, 2012 9:00pm PST
of an overall deficit reduction package. if folks can't say yes to good offers, then i also have an obligation to the american people to make sure that the entire burden of deficit reduction doesn't fall on seniors who are relying on medicare. >> now, one of the questions in the days ahead will be whether or not this strategy back fired because republican leaders on the hill had their feathers ruffled by the fact that the president seemed to be blaming them. and speaker john boehner saying he should spend more time negotiating, why are you on tv while mitch mcconnell is working with harry reid to troy to get a deal. the president's point was if they do not make any progress on bipartisan talks in the senate since the clock is running out he wants a straight up and down vote on the senate on his fallback level. put it go in the $250,000 a year and extend unemployment benefits for 2 million americans americans americans, dana. >> this is bob beckel. are you done? >> i had a great question, but age before beauty. >> a lot of age and no beauty. >> what? >> ed, truth be known, and we see this fisca
FOX News
Dec 31, 2012 10:00am PST
on debt and deficits. we kept on pushing it off, pushing it off into the future. now we are right at the point where we have to make a decision on debt, dficits and spending and all we're talking about is a deal on taxes. it seems very likely that tax rates on higher income people will go up. we know for a fact that social security taxes will go up tomorrow, and some obamacare taxes they kick in as well tomorrow morning. so all we're talking about at the moment is raising taxes, we are doing nothing on deficit, debt and spending, that means this wrangling, this mess will continue. rick: child tax credits get extended according to some reports now. the earned income tax credit gets he can tended. the college tax credit gets extended for another five years, these are all things that cost u.s. taxpayers a lot of money, and it's probably just the beginning. >> it sounds like they are throwing a lot of items into the tax basket. i'd like to hear what they are going to say about the alternative minimum tax and the estate tax is that included in this tax basket? you'll notice, rick all t
FOX News
Dec 31, 2012 6:00am PST
deficit and debt and then a more recent one that passes an extension of all the bush tax cuts. so the their position right now, at least speaker boehner's is, hey, it is time for the senate to act on some of our bills. we'll keep an eye what is happening there. heather: busy day for them. president obama taking his case to the american public. here is what he had to say about the situation playing out on capitol hill. >> what's been holding us back is the dysfunction here in washington and if, you know, people start to see that on january 1st this problem still hasn't been solved, that we haven't seen the deficit reduction we could have had, the republicans been willing to take the deal i gave them, if they say, that people's taxes have gone up, which means consumer spending is going to be depressed, obviously that will adverse reaction in the markets. heather: there is lot at stake for all americans. three big issues on the financial front this morning as a matter of fact,. stu varney, host of "varney & company" on the fox business network joins us now. stu, no deal on capitol hi
MSNBC
Dec 31, 2012 10:00am PST
go up as part of an overall deficit reduction. >> a health scare for hillary clinton. new details as the secretary of state undergoes treatment for a blood clot in a new york hospital. >>> ringing in the new year. from sydney to new york city. the world turns the page to 2013. good day. i'm chris live in washington in for andrea today. deal or no deal? as vice president joe biden and senate republican leader mitch mcconnell continue negotiations, we just have learned that president obama will speak about the fiscal cliff at 1:30 p.m. eastern time. with all that happening, let's get right to our daily fix. nbc's kelly o'donnell on capitol hill, nbc's kristen welker at the white house, and jonathan capehart, washington post editorial writer and my colleague and an msnbc contributor. okay, kelly. the action is on the hill where it's been for the last few days. let's start with you. this is a fast-moving story. give us the latest perimeters of what appears -- i emphasize appears to be the start of a deal. >> well, it has been coming closer together, so we are told. the question is wha
MSNBC
Dec 31, 2012 4:00am PST
, is this the deal i would have preferred? no. but this compromise does make a serious down payment on the deficit reduction we need. most importantly, it will allow us to avoid default and end the crisis that washington imposed on the rest of america. it ensures also that we will not face this same kind of crisis again in six months or eight months or 12 months. and it will begin to lift the cloud of debt and the cloud of uncertainty that hangs over our economy. >> it's a real disappointment today. i'm sorry that the so-called super committee was not able to do its work because this makes it much more difficult to achieve the deficit reduction targets that must be done. what happens next is there will be $1.2 trillion reduction in spending through what's called sequester. >> under current law on january 1st, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases. i hope that congress will look at that and figure out ways to achieve the same long-run fiscal improvement without having it all happen at one date. >> there's still significant distance between the two
CNBC
Dec 31, 2012 7:00pm EST
. with $480 billion to decrease the deficit. we had our choice we wouldn't be doing it that way. the government is too big and in effective we could take most of the money by decreasing spending. the 11th hour and there are a lot of people who shouldn't be having tax increases if we don't reach a compromise. so those are two different questions and i'm not about to give up the $1.2 trillion. we haven't cut a penny yet. so, that is not something i'm willing to give up. that is the thing. let start there. your book, your work, your speeches, you have identified hundreds and hundreds of billions of dollars of waste that the government doesn't need and the country doesn't need and it seems to evaporate. and from what i gather, the debate right now is whether to put off the spending cuts, it is always maniana when it come to spending, sir. and you no as well as i do, taxing the successful earners is not going to solve our problem. >> there is one bright side. if this bill happens, 95% of americans are going to have rates locked in. they are going to have some sernl ti for the future
NBC
Dec 30, 2012 6:30pm EST
points is should new leff new from tax increases be used to pay down the country's deficit or used to cover the cost of preventing sweeping government spending cuts? no ordinary sunday. arriving at the capitol, congressional leaders' every move and every word under scrutiny, as the country waits, weighing in from the white house, the president, who appeared on "meet the press," pushed republicans to give on taxes. >> i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> reporter: inside closed door negotiations this weekend, aipds say there have been "constructive move." on key issues like taxes, including compromise on where to set higher rates for wealthier americans and avoiding a jump in inheritance taxes. but this afternoon, republican leader mitch mcconnell complained that democrats had failed to deliver a promised counteroffer. so mcconnell called for help, phoning vice president biden who came to the white house to
CNBC
Dec 31, 2012 6:00am EST
, now he's mad at howard schultz because he wants to, i don't know, do something with the deficit near term. can we go another five years without having some kind of reckoning in the bond market or somewhere else? >> you know, the european crisis has been quite instructive for my mind in this. but the reality is democracies don't really take tough decisions until they're put under enormous pressure from some external factor, in this case, the stock market. i find myself -- and i still think it today -- that oddly in the events of europe come out of the germans next door with something much more clear about a nurch path of the eurozone, and so people did start to believe the euro is a true global reserve currency to compete with the u.s., that might be the point where the u.s. starts to come under sear use pressure from the markets. of course wrb to some degree, the past -- well, longer, going back to august of last year, the u.s. had this strange benefit that this persisting european crisis is around and sort of global investors can't deal with two huge clem mas at the same time. but i
MSNBC
Dec 31, 2012 9:00am PST
of representatives in the senate. they have to be taken into the -- >> did is it reduce the deficit, which is the whole point of this in the first place, right? >> about $1 billion maybe. >> republicans are essentially arguing against deficit reduction. they're looking for higher thresholds, which curtail deficit reduction. i want to ask you this, because isn't there a philosophical sort of win for the democrats anyway because this will be the first time republicans were enacting a tax increase, you know, since biggie and tupac were alive? septemb isn't that a win? >> yes, that is a win. i think that a lot of this could come down to this paired down democratic plan that could come up on the senate floor. if everything else goes out the window, it's the strictly $250,000 threshold, you know, extend unemployment insurance, and come up with a broader plan and punt everything else. >> does it get to the house? can that get through the house? >> right. >> the house people are telling me, house republicans are telling me, that if the margin in the senate is, like, 70-30, then clearly speaker boe
CNN
Dec 31, 2012 11:00am PST
our deficit problems in a balanced and responsible way that doesn't just deal with the taxes, but deals with the spending in a balanced way, so that we can put all this behind us focusing on growing our economy. but with this congress, that was obviously a little too much to hope for at this time. >> let's turn now to chief white house correspondent jessica yellin. let's talk a little bit about the outlines of the deal, the fact that the president came out to make his case and try to push this thing over the finish line. what does the white house have to do to gain the backing it needs. >> reporter: well, what we heard from the president today just now was really an emphasis that there are a lot of components here for democrats to like because their focus especially is on making sure that -- because i should say democrats really need to come out in force for this to get across the finish line. what you asked is also what is in this measure. tax increase or taxes to -- would go back to the clinton levels for people who make $400,000 a year, or households that make $450,000 a y
CNN
Dec 30, 2012 12:00pm PST
've all done the math and we all absolutely agree on the math that you can't get out of the deficit hole we're in by taxing rich people even if you tax them at 100%. everybody know knows that. so when republicans say we don't have a tax problem, we have a spending problem, the fact is we've got both and we can deal with that. you gave your blessing to the proposal that john boehner put together and so many congressional republicans are scared for voting for something that feels like looks like, a tax increase because they're worried that your organization will come back to haunt them. they signed a pledge, you gave your blessing and they still couldn't get the votes on the floor. what's up with that? why did that not happen? a week ago i was hopeful we might have a deal. >> because the pledge is not to me, it's the american people. it's the people of the state that any congressman or senator is from. they have to feel that they can go to their constituents and say -- i voted against all efforts to raise taxes. i argued having read the boehner plan, it was silent on taxing people that mak
CNN
Dec 30, 2012 1:00pm PST
. it ought to be about reducing the deficit and the debt and what they are essentially suggesting is we want new taxes, we want higher taxes on people in this country to pay for new spending. >> senator, senator mcconnell has spoken a couple times with the vpz. we have seen in the past that the two of them have been able to come up with bipartisan deals to get through congress on taxes and other things. did he give you an indication in the meeting you just had with rank and file republicans that might be an avenue of success? >> there -- those conversations and discussions continue. and we remain hopeful that that will get a breakthrough. on veryiously, what had happened here between the two leaders in the senate had broken down because the senate democrats failed to come forward with a counteroffer to the proposal republicans made last night. so hopefully, the discussions between the vice president and senator mcconnell will get us back on track, hopefully get a breakthrough and something we can vote on, hopefully today or tomorrow that will avert what we believe will be an economic disaste
MSNBC
Dec 31, 2012 6:00am PST
on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> nbc's capitol hill correspondent kelly o'donnell is live on capitol hill. kelly o., i'm looking at the clock, we are now 14 hours and 58 minutes from going over the fiscal cliff. let's outline -- >> reporter: but who's counting, right, chris? >> yeah, who's counting? let's go over for people, what remains unresolved? it seems like two weeks ago they were pretty well set on the basic parameters of this thing, so let's talk about what's left to deal on? >> reporter: well, there are some significant differences, but there has been progress. i've been talking to sources who say that the vice president and mitch mcconnell stayed on the phone exchanging calls until around midnight last night and that staffers who are key to this process continue talking after that. as you know, there are very few people in the room, so to speak, who really have their fingerprints on whatever deal may eventually come and what has been passed between the two sides so far. about six proposals back and forth, and i
FOX News
Dec 31, 2012 3:00pm PST
. >> if we are going to be serious about the deficit and debt reduction, then it's going to have to be a matter of shared sacrifice. at least as long as i'm president. i am going to be president for the next four years. >> president obama said a deal is in sight and appeared at a campaign style event to remind everyone he is winning and g.o.p. is not. >> last month, republicans in congress said they would never agree to raise tax rates on the wealthiest americans. the agreement currently discussed would raise those rates, raise them permanently. >> republicans suggest the event may backfire to accuse the republican of rubbing their nose in defeat. >> the president won. we know that. he won fair and square. isn't it now time to govern? >> the president was out of line with his comments at 1:30 afternoon. this is a delegate time. i think the democrats would be embased after what the president did. >> after months of the president promising a balanced approach there are only tax hikes for rich without new spending cuts. today he hinted at more tax hikes ahead. warning republicans th
MSNBC
Dec 30, 2012 12:00pm PST
they would like to see something that addresses the long-term deficit. whether that can happen in this deal seems to be the problem. democrats have said if they can get something bigger they would be open to changes in entitlements. that is where things stand. there is clearly even handed on both sides saying they want to get things done. you know the clock is running and those signs make everyone think this may not resolve itself tonight. >> thank you very much. >>> let's go to the white house and kristen welker. hi there. >> reporter: hi, there. the white house is not commenting on these developments. senior administration officials say the action is going on on the hill right now. they are hesitant to weigh in. they don't want to disrupt any progress or setbacks that may be in the process of being resolved. so that is what the white house is saying publicly. i can tell you that behind the scenes it is a very busy day here at the white house. staffers have been on the phone with their counter parts on the hill. president obama also on the phone as you heard report he has spoken a number o
FOX Business
Dec 31, 2012 9:20am EST
that it's not as if we didn't see this coming. nobody is blaming the deficit reduction supercommittee and the fact of their failure to have a bipartisan agreement is really what triggered this fiscal cliff in the the first place. stuart: is it a failure of president obama to lead? i mean, else's the president of the united states of america. we are facing a fiscal crisis right now, an economic crisis, for heaven's sake. shouldn't we expect the president to go a long way towards dealing with this and leading us out of it? and i don't see it, frankly. >> i don't either. and i think his view, honest he isly, he just won an election and so he calls the shots and republicans should just follow along, even though republicans kept their majority in the house and there's a great deal of the country that does not support the way that obama would like to deal with this problem. stuart: look how it's been presented in the establishment media. president obama cutting short his holiday vacation, returning to washington trying to fix the fiscal mess. thank you very much, mr. president. mr. boehner,
MSNBC
Dec 31, 2012 5:00am PST
that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. the offers that i've made to them have been so fair that a lot of democrats are getting mad at me. i mean, i offered to make some significant changes to our entitlement programs in order to reduce the deficit. they say that their biggest priority is making sure that we deal with the deficit in a serious way, but the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. >> fiscal cliff negotiations are now down to the wire with a midnight deadline just hours away. that's tonight, new year's eve. at stake, the prospect of sweeping tax hikes and across-the-board spending cuts if a deal is not reached. and all indications are it's not looking good. here's the latest. the senate is scheduled to reconvene at 11:00 this morning. any deal today would have to be rushed through both chambers of congress before midnight. as talks in the senate stalled yesterday, minority leader mitch mcconnell reached out to someone h
MSNBC
Dec 31, 2012 7:00am PST
. the real cliff will come if we fail to deal with our debt and deficit. we just can't do that. >> that -- >> i don't like the content of the sequester. i do think it inordinately hits defense but that is something we can negotiate once we get into the new year. but to turn off those cuts would be just a frank admission we can't cut spending ever. i think the markets will respond very negatively to that and as well they should. >> you've also said republicans are resigned to seeing some sort of income tax hike. i wonder what is acceptable to you. we've heard 400,000, we've heard 450,000. is there a point at which it's a point of no return for you? >> well, my preference is to leave the rates where they are for everyone. we know that is not going to be the case. the president wouldn't sign such a bill. the democrats in the senate wouldn't pass it. so my goal is to pro-fekt tect y taxpayers as possible from higher tax rates. i don't know where that will be but the truth is that at midnight tonight taxes on everybody go up automatically, so i'll take a deal that can protect lower
CNN
Dec 31, 2012 9:00am PST
. you know, he wants to compromise. again, we've got to close this deficit, and it's done not just by cutting but by putting revenues on the table and asking the wealthiest, which the president is good at saying ask the wealthiest to pay more than their fair share. >> i know there's another issue dear to your heart we want to discuss as well. last week the russian president putin banned all u.s. aadoptions, very much a vindictive measure for something the u.s. had done as well looking to punish those human rights violators from russia. you have been very vocal about this. you have two adopted children yourself. i understand that you've written a letter to president putin to try to get him to change his mind. is there anything that can be done to the nearly 50 pending adoption cases now where american parents have already met what they believe were their russian children? >> i hope so, suzanne. as ayou know, frank and i have two beautiful children aadopted domestically, but there are over 100,000 adoptions in america every year mostly by americans for american children. we have adop
CNN
Dec 30, 2012 2:00pm PST
do anything to reduce the deficit and this was all supposed to be an exercise in bringing down our deficit and our long-term debt and where we are right now, it doesn't appear that we are getting that done and even more importantly, it appears that republicans are still trying to protect the tippy top as opposed to looking after the greater good of the economy and middle class families. >> as far as you-all were told by the democratic leader, where do you think stands -- things stand right now? >> i think that there is a difference in terms of what we think the rates should be for -- and at what point there should be a tax cut and at what point there should be a little revenue that we should collect. there is a difference there. there was a difference about whether or not we should be looking at the social security issue in this discussion. my understanding now the republicans have backed off now, correct, and we are looking at whether or not we are going to end up with deficit and debt reduction and whether or not the changes the republicans are insisting upon are going to comes o
MSNBC
Dec 31, 2012 2:00pm PST
sources are telling me, so they can do some real sort of comprehensive deficit reduction tax reform within a year. they're hoping that their chances will improve with the new congress and with a little bit more time. so that is where things stand right now at the white house. certainly they are hoping that there is a vote in the senate, but as you point out, chris, that is not a guarantee. >> hold on, kristin welker. let me go back to mike viqueira. is there sort of a conventional wisdom at this point when we could see a vote? >> reporter: you know, i'm going to hesitate to get into that. i have got to get out of the prognostication business here, chris, because so much of this is up in the air. i think you'll be heartened to learn that house republican leadership aides watch msnbc and i just received an e-mail emphasizing that there's nothing for the house to vote on. they're sort of sore about this idea that they are the ones sort of taking us over the cliff by not voting tonight. they say that their whip notice said as announced in previous updates, we expect previous votes to be the la
FOX News
Dec 31, 2012 8:00am PST
is this because supposed to be a down payment on deficit reduction, and when you think about the things that could be in this bill, whether it's increasing rates for doctors in medicare, as well as possibly delaying the defense sequester, this bill could actually cost money and increase the deficit especially when you're talking about the tax rates. because remember cbo assumes that the tax rates are actually going to go back to clinton rates. so that is going to be a cost there. and that will be a problem in the house if this score comes back as blowing a hole in the deficit that will be a problem getting the votes even if they get a tkaoefrpblgts you're no deal. >> reporter: you're not confident at all that the money they get will be used to pay don't debt. >> i think some of it will. when you think about all the things that could be in this bill there are some pricey price tags here that are going to increase this bill and basically that is going to be a problem when house conservatives hear that this is actually going to increase the deficit. there will also be a problem for the credit rating
CNBC
Dec 31, 2012 9:00am EST
there will be a deal, even if one that doesn't solve all of our long-term debt and deficit problems. here's bob corker. >> i do think there's going to be a resolve to this. the problem is, you know, we created this fiscal cliff to make some tough decisions. and none are going to be made. not one. >> so the question is going to be then, do the tough decisions on spending get made in january and february, running up to the debt limit. we'll see how that goes. we'll see if it actually gets done today. you hear positive things from talk, but you can't trust anything until reid and mcconnell come out on the senate floor and say they have a deal. and then boehner puts it on the house floor. >> it's interesting now, that mcconnell has reached out to the vice president and is doing a deal, specifically that way, rather than involving it would appear at this stage the democrats in the senate. are they now more fractious in actually passing a deal potentially from the gop in the house? >> no. i think it is just dynamics of late-stage negotiations that when you get to the really hard parts, you've got to go high
CSPAN
Dec 30, 2012 7:00am EST
across the country. we talk about reducing deficits and having a responsible budget for 20 years. this is actually, it will you go over the cliff and nothing changes, the largest single day of the deficit reduction in world history. it is $600 billion in deficit reduction trust by the turn in the calendar. over the long term, you look at what that does, we are in much better shape over the long term by going off the cliff. the problem is that right now, we are still very slowly recovering from the worst financial crisis it had since the great depression. it probably is not the time to be having such large deficit reduction. that is why we and others have been focused on getting some kind of a larger deal that can ensure we do not have this extensive short-term deficit reduction. if we start to deal with these problems now, we can do so adequately and without too much short-term economic pain and helping the economy. from let's go to patricia oak creek, wisconsin on the democratic line. caller: good morning, and happy new year to the both of you. i feel so sad for our poor country
CNN
Dec 31, 2012 1:00am PST
about 8% of the deficit problem over the next ten years. we have a $1.3 trillion deficit for 2012. it will be about a trillion for 2013. we're borrowing 35 cents on the dollar. the enormous problem is interest rates are way below normal, so when they spike, which they inevitably will, and the government is borrowing very short term to keep its costs down, the deficit is going to swamp the economy. and at that point you're going to have the debt crisis, and you're going to need a whole new stream of revenues. the only thing that paul krugman and paul ryan agree on, in a crisis situation, only a value-added tax will solve this problem. by raising marginal tax rates to get us out of this potential crisis. so we need very, very steep spending cuts, all of the emphasis and debate has been over marginal tax rates which are really a minor part of the solution, no matter what political strife you happen to be. you have to realize that tremendous spending cuts are necessary and already the -- any changes to social security have been ruled out in a short-term solution and it's going to be v
MSNBC
Dec 30, 2012 5:00pm PST
, to pay for more government spending that doesn't help us with the deficit. and you hear members of congress, your republican colleagues who say, in my district, they don't want more spending. and that's how they see this money being spent. >> two things i would say. first of all, that is not the democratic position. no one that i know of is arguing that all of the increased revenue should go for increased spending nap simply isn't the case. by the way not having the sequester doesn't mean increased spending. it mean not having spending cuts. i voted against the idea of a sequester. i think it's not right way to do it. what the republicans want to do is spend more on defense. let me deal with this notion that republicans for cutting spending. you heard mitt romney criticize president obama because he's not spending enough on ships, which we don't need, and not staying long enough in the war zones. the republicans' view of spending is very particular one. secondly, as far as the american people are concerned, people in their districts, gee, if they represent districts in new jerse
CNN
Dec 31, 2012 4:00am PST
. their biggest priority is making sure that we deal with the deficit in a serious way. the way they are behaving, their only priority is making sure tax breaks for the wealthiest americans are protected. seems to be their only overriding unifying theme. >> now, ali, a poll shows republicans will bear more of the blame in this if we do go over the cliff. but the incentive to do something continues even if we go over the cliff. the expectation is come midnight tonight, this is not resolved, even if there isn't some sort of deal, a framework, there is still going to be work done and still be members of congress and the white house trying to wrap this up here in the next few days. >> polls show not only republicans will get the blame and the country supports the president by 2/3 in raising the taxes on the rich. in 20 years if we go over the cliff, you won't remember the name of the speaker of the house or senate majority leader who is responsible. you will remember the name of the president your honor whom it happened. it's probably important to remind viewers, christine, there are people in americ
CNN
Dec 31, 2012 4:00pm PST
billion for the economy. that would help the federal government in terms of dealing with the deficit, but nonetheless, it still won't be enough, but it will be a start in that direction. that's the current cutoff, but we don't have that deal yet. absent that deal and as long as the clock keeps ticking, all of this is on the table for all of us. one more thing i should mention, bear in mind this past year, all of us have enjoyed a payroll tax vacation. payroll taxes were reduced across the country to help people deal with this bad economy right now. that's ending. there's no sign that's not going to end. everyone is going to pay a little more anyway. what we're worried about is this extra level on top. that is what many volters are paying attention to and that is the real bear in the woods that has democrats and republicans both worried about these negotiations. >> the clock, as you point out, is ticking, ticking, ticking right now. tom, thank you. >>> what's at stake for the millions of americans already out of a job once the country goes over the fiscal cliff? that and much more whe
CSPAN
Dec 31, 2012 10:45am EST
were paying down the deficit. we had three straight years or four of surpluses. c.b.o. said if we continued on that way, we would pay off the national debt by 2010. well, then george bush came into office, they looked at all the surpluses out there and said guess what? we've got to take some of that and give it back in tax cuts, and that's what they did. now that's what's ending tonight. that's what ends tonight, are those bush tax cuts. so we go back to the tax system that we had under bill clinton. i ask, what's so bad about that? it worked pretty darned well. the economy was going well. we were paying down the deficit. things were going well under bill clinton, under that tax system, and that's what we'll go back to tomorrow. what's so bad about that? well, what's happened is in the last ten years a lot of people have gotten very rich in this country. very rich. and now they want to protect their wealth. and that's what they want to do. they want to lock in this system on estate taxes and lower tax rates up to $450,000 or $500,000 or a million or whatever they want. they want t
MSNBC
Dec 31, 2012 1:00pm PST
illustrated with a few choice words today. >> if republicans think that i will finish the job of deficit reduction through spending cuts alone, and you hear that sometimes coming from them, sort of after today we're just going to try to shove only spending cuts down -- well, shove spending -- [ laughter ] shove spending cuts at us. if they think that's the formula for how we're going to solve this thing, then they've got another thing coming. >> i wanted to bring in democratic congressman john larson of connecticut with us from capitol hill. thanks for coming in. >> happy to be here. >> i want to talk spending in a moment but, first, what's your reaction to the parameters of a tax deal, a hike on incomes more than $400,000 for individuals, $450,000 for couples. your tlauts houghts on what we o far. >> we really don't know that much. we haven't seen anything in the house of representatives. i just heard luke russert say, you know, the ink isn't dry on any agreement yet. so while we're hopeful that there is an agreement that can be reached and have been prodding our colleagues to do so, th
MSNBC
Dec 30, 2012 2:00pm PST
. it ought to be about reducing the deficit and the debt, and what they are essentially suggesting is we want new taxes. we want higher taxes on people in this country to pay for new spending. >> so what happens next? with us nbc news capitol hill correspondent mike vic rah and nbc news white house correspondent kristen welker. mike, let's get started with you. what's happening right now in the senate. i understand there's an update on the chained cpi. >> reporter: they say the darkest hour right before the dawn, melissa. everybody ought to hope that's true, at least if you don't want to see your taxes go up on midnight on monday and tuesday night because everything seems to be at a standstill right now. let's review the bidding. here it is from a republican source here on the republican side of capitol hill. all day yesterday they were trading proposals back and forth. by his count two democratic offers came back to republicans and four came back from republicans to democrats. the last one being at 7:00 last night, and, boom, after that, things pretty much came to a standsti standstill. no o
FOX Business
Dec 31, 2012 11:00am EST
deficit is out of control. there have to be some spending cuts. you have to address the spending side of this column. you have to address entitlements. what the president wants to do is look at the taxes, generate enough revenue and forget about the rest of it. i do not excel. the american people have had their fill of this. they are demanding we address the spending side. you have to look at tax reform. it actually makes the problem worse. why would i kick the can down the road and why would i keep all of this that all my children and grandchildren so that their future is capped and traded to the people that own our debt? i think that is your responsibility. rich: eventually, the house will have to get involved in this one if there is a deal. dagen: and there are a number of issues where the two sides are far apart. keep in mind, the mmst important role is to avoid the tax increases. still some issues before we bring legislation to the floor. thank you so much for that, rich. we are waiting for some answers to the debacle down and d.c. i look at the nonsense and think the markets hav
FOX News
Dec 30, 2012 7:00pm PST
on wealthiest should go up a little bit sweas well as a deficit reduction package. if they can't say yes to good offers i have an obligation to make sure the entire burden of deficit reduction doesn't fall on seniors who are relying on medicare. >> republicans are expressing frustration saying the president is trying to put the blame on them for going off the cliff but when senator mcconnell was brought a few days ago mcconnell's office says he got a call from senator reed or democrats to talk about the fiscal cliff in about a month. they feel like they have not gone the extra pile here. >> the vice president getting a call today. what do they make of all of that? >> that could be a big deal. it shows the white house push back they are going to say look he has been pulling out all of the stops with the vice president in delaware came to the white house today working the phones we are told they had multiple conversations with senator mcconnell. a year and a half ago they talked about raising the debt ceiling it was joe biden a lot of years working with mitch mcconnell. joe biden got a nickname as
MSNBC
Dec 31, 2012 11:00am PST
this is not a perfect deal. he said he wanted a big deal that dealt with both tax reform and deficit reduction. you also heard him talk about the fact that the new revenues would be hundreds of billions of dollars. what he initially wanted was about $1.6 trillion so this is a compromise on his part, as well. republicans initially coming, raising their offer so they kind of came to the middle on that point. but, again, the one sticking point that remains, the sequester and what negotiators continue to hammer out. vice president biden playing a key role in the negotiations having served more than 30 years in the senate. he knows how these types of negotiations get done. really, better than anyone. he, mitch mcconnell with whom he has a strong relationship, trying to take it to the finish line. >> i guess that's something given how many sticking points we were up against before. thank you so much. >> reporter: thanks. >> any deal from the 11th hour talks will be rushed through both chambers of congress. mike viqueira at capitol hill for us. is that possible at this point? >> reporter: it's possible. whethe
CNBC
Dec 28, 2012 6:00am EST
% of the population. >> and that he they gave numbers to the cbo that said we were going to cut the deficit. and, in fact, it was a new entitlement that now is going to cost $12 trillion. we're not that far apart on that issue. i've always thought it would cost a lot of money. >> we're going to have your wife call into the show a little later. >> there is a place of frustration there in any twosome, there's a place for someone who doesn't have to be. >> that's true. you're carson. >> can you do that? >> well -- >> you can't do ed mcmahon? >> i'll work on that. who was conan scott? he had a guy, andy richter. >> no, don't do that. you would have to put on a bunch of weight. >> andy was from my hometown in massachusetts. >> was he? >> yeah. >> let's check on the markets. down 47. we came back, closed down just 18 points yesterday. that's the first time in history where someone said that the house coming back in the markets went you up. usually the government comes into session and the markets go down. we're indicated down about 47 points today. oil has been amazingly strong considering that if we
CNN
Dec 30, 2012 4:00pm PST
to pay a little bit more to reduce our deficit, and that's what's been going on for the last six months. that's what the conversation in the election was all about, but here we are. >> can you walk us through this? you said the chain cpi. i was told it was off the table. is it still on the table? >> earlier today i would have said the odds of an agreement was very low because mitch mcconnell, the republican leader, had put that into the talks. that apparently is no longer part of it. >> walk us through this, what's happening right now. are we at 250 or 400? what are we doing with unemployment? what's going on? >> well, again, there's -- no one has agreed to any particular threshold, whether it's 250, whether it's 400. unemployment insurance is something that is the an absolute requirement. the president has said and i totally agree that it's important that folks who are out of work through no fault of their own continue to get help. it's not just good for their families but the whole neighborhood and the local economy. one of the big issues in the senate has been a republican demand to
MSNBC
Dec 31, 2012 8:00am PST
changes to our entitlement programs in order to reduce the deficit. >> all right. we're just listening to a democrat, tom harkin, criticizing the deal so far. the question -- we're speaking specifically of the concessions, perhaps the $450,000 offer we're aware of coming from vice president biden. are the president and democrats caving too much? tom harkin is expressing that frustration. >> well, i think we're all frustrated about that. i think the american people, 60% to 70% of the american people believe the president was correct in setting the limits at 250 and 200,000 for individuals as the cap on making sure that those taxes didn't go up for those americans making less than that. 70% of americans think that's about right. they voted in the presidential election and re-elected a president who said that was his criteria. but the president understands this is a process where compromise is necessary. the house of representatives, controlled by the republicans, clearly has indicated that a million dollars was not acceptable to it in the united states senate. clearly, mitch mcconnell co
MSNBC
Dec 27, 2012 12:00pm PST
's anti-fragile. you need also to have less deficit on the part of government and transfer it to the states. more decentralized decision making. why? because if you do you have decentralized errors. not one error dragging you down and last decade two errors in the down. iraq war. you know? it was a horror from human side. but it cost between 40 and 120 times the original estimates. you don't want mistake that is are very large. a fragile system is one in which mistakes are costly and the benefits are small and anti-fragile system is one in which mistakes are small and bring long-term benefits. we want to be in that environment and environment that ben filths of mistakes. >> i hear what you're saying. shifting the debt burden from the federal government and states and federal government is a better position to carry debt. states have these constitutional balance budget amendments and bail out the states, isn't it? >> this is exactly the problem we have is that the government finds it easy to borrow and runaway deficit. let me explain the big thing. a project in the uk where
CNN
Dec 30, 2012 10:00am PST
'm not willing to do is to have the entire burden of deficit reduction rest on the shoulders of seniors making students pay a higher student loan rates, ruining our capacity to invest in things like basic research that help our economy grow. >> in news overseas the bodies of the dead are being carried away in syria today. at least 397 people were killed saturday. that is the deadliest day so far in the 21-month long civil war. another 52 died today. the joint u.n. arab league envoy said the situation is rapidly deteriorating but that a solution is still possible. >>> in massachusetts boston's mayor lifted a snow emergency a little earlier today. more than a foot of snow fell on several towns across that state overnight. crews are clearing tons of snow in the gillette stadium now preparing for the patriots/dolphins game this afternoon. >>> keep it here as the clock ticks to the fiscal cliff. we are live on capitol hill and at the white house. plus we'll be back with a full hour at 2:00 p.m. eastern here in the cnn newsroom. we'll see you then. >>> it was one of the most important diplomatic mis
CNN
Dec 31, 2012 8:00am PST
. over that i think some of the people who are making more than that can help address the deficit and the debt problem that confronts our country. obviously a necessity put this country on a path. if we're going to do that, everybody has to make a contribution toward that. those who have the most need to make their contributions. so the math has got to work. we're not really dealing with the math at this point in time. we're dealing simply with what are the realities of the ability to get to an agreement and create consensus, which is going to be essential if we don't go over the cliff at midnight tonight. so clearly the administration has been working very hard. i think others have been working hard. hopefully we'll get there. >> i know you're measuring this in hours. in fact, as my colleague points out, 517 days ago is when this was wrought by the bodies trying to fix it. on the senate side, tom harkin made it clear they may try to block that vote over the thing you're talking about. i want to listen to what he said on the floor just moments ago. >> if we're going to have some k
ABC
Dec 31, 2012 6:00am PST
is reached, it is likely to be temporary with another fight over deficit reduction coming next year. market is reacting cautiously. positive in nasdaq and s&p, dow has cut losses as these bits of news trickle out. bloomberg index still trading s(ó airlines say they are always trying to improve customer service, according to one survey they$0!6 should check to see if their employees have an attitude problem. 1,000 people were asked which airline had the rudest employees, american topped the list, 25% criticizing the manner of the workersg4p, united second, followed by delta andj0a us airways. gñ a smoker and looking for a resolution, today may be good day to researchers say the best day of the with week to quit smoking is monday. monday saturday people start out fresh, they resolve to do better and focus is on health. you can resolve to quit for just a week and renew the pledge to yourself, next monday and get through the whole year without smoking. tobacco-free website says public and private health care expenditures a.m. to 96 billion dollars a year. -- amount to 90 six billion dollar
MSNBC
Dec 24, 2012 7:00am PST
of the deficit? bring all 3 million of that one weapon back in, let the government, county, state and federal, pay you to take them back. you do don't need them. >>> we have to leave it there. thank you for your time. >>> speaker boehner has said it's up to the senate and the president to come up with a fiscal deal, but as some point out, he'll have to push a bill through the house. given last week's events it won't be easy. "the washington post" columnist e.j. dionne says that may be the silver lining, writing, quote -- now at least we know something important. the current rep majority cannot govern, only a coalition across party lines can get the public's business done. e.j. joins us now, a senior fellow with the brookings institution and an msnbc contributor. e.j., great to see you, as always. john boehner sits to the left of center of his caucus. can he work out a deal without inciting a full-scale revolt? >> well, we don't know that, but i think he'll have to test it. that really tells you something about how conservative the republican caucus has done. john boehner is a good conservativ
MSNBC
Dec 28, 2012 3:00pm PST
the ground work for future cooperation on more economic growth and deficit reduction. >> now, that's a little different i. the president is saying he's going to urge the senate majority leader to go in an up or down vote which really rallies the country to call on their senators. and when he referred to unemployment insurance and unemployed people looking for work, the benefits that are set to expire, expire, now, are lifelines for people who work. 2 million people we're talking about. average check they receive is $320 per week. benefits goes to those who have been unemployed more than 6 months. every dollar in unemployment benefit translates to $1.10 in additional economic activity. these people have been out of work. these are people that invested in unemployment insurance, been out of work over 6 months. depend on this $320 a week. it expires unless a deal is made. that's why this is cig nif kant. and the president is saying let's make this happen or call the roll. >> it's time for a reckoning. the reckoning has to occur in a couple of different ways. the president is going to use his bul
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